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May 2016
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Family Medical Costs to Exceed Cost of Groceries in 2013

Quick! What does your family spend more on, medical costs or groceries? Well, don’t look now, but the answer might surprise you:

The cost of medical care “now exceeds the cost of groceries” for the typical American family with health insurance coverage through their employer, a new study shows.

The 2013 Milliman Medical Index, which is published by consulting and actuarial firm Milliman Inc., measures health costs of a typical family of four, shows annual cost of benefits through an employer-sponsored preferred provider organization rose 6.3 percent to $22,030. That costs compares to $20,728 in 2012.

“It is a huge expense,” Chris Girod, principal and consulting actuary at Milliman Inc. said in an interview. “Although the trends are slowing down, the total dollar amount has risen $1,300 per year each of the last four years.”

Health Costs For Family Of Four Higher Than Year Of Groceries

How much is your family spending on medical costs? Tell us about it in our discussion forum!

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  5. How Much Do Health Insurance Premiums Vary From State to State? The Kaiser Family Foundation Finds Out

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